NEW YORK (GenomeWeb News) – Navigenics has reeled in $18 million in Series C financing from an investment round that included The Procter and Gamble Company, Kleiner Perkins Caufield and Byers, and Mohr Davidow Ventures.
The company plans to use the financing to continue researching ways genomics can be used in preventive health care and to "expand our clinical offerings into exciting new areas and lead the way in making personal genomics an integral part of employer-sponsored preventive health and wellness programs," Navigenics CEO and President Vance Vanier said today.
"When combined with their commitment to developing innovative consumer health and wellness products and an expanding focus on health services, P&G's insight and brand will strengthen Navigenics' position to embed personal genomics into the prevention dialogue of everyday health care," Vanier added.
"Personalized genetic testing can have significant meaning in helping consumers focused on prevention and wellness live better, healthier lives – something that P&G has always been committed to," Nathan Estruth, VP of P&G's FutureWorks and Board member of MDVIP, a primary care physicians network that has initiated a collaborative effort to make Navigenics' genetic test available to its affiliated physicians.
FutureWorks is P&G's "entrepreneurial new business generator," according to its website.